Optimum currency area theory: evidence from post-Soviet countries and implications for Eurasian Economic Union

References

• Alesina, A., & Barro, R. (2002). Currency unions. Quarterly Journal of Economics, 117, 409–436.
   Web of Science ®Google Scholar
• Alesina, A., Barro, R., & Tenreyro, S. (2003). Optimal currency areas, NBER chapters. In Mark Gertler & Kenneth Rogoff (Eds.), NBER macroeconomics annual 2002 (pp. 301–356). Cambridge, MA: MIT Press.
   Google Scholar
• Bayoumi, T., & Eichengreen, B. (1993). Shocking aspects of european monetary integration. In F. Torres & F. Giavazzi (Eds.), Adjustment and growth in the European Monetary Union. (pp 193–235). Cambridge: Cambridge University Press.
   Google Scholar
• Bayoumi, T., & Eichengreen, B. (1997a). Optimum currency areas and exchange rate volatility: Theory and evidence compared. In B. J. Cohen (Ed.), International trade and finance new frontiers for research: Essays in honor of Peter Kenen. (pp. 184–215). Cambridge: Cambridge University Press.
   Google Scholar
• Bayoumi, T., & Eichengreen, B. (1997b). Ever closer to heaven? An optimum currency area index for European countries. European Economic Review, 41, 761–770.
   Web of Science ®Google Scholar
• Bayoumi, T., & Eichengreen, B. (1998). Exchange rate volatility and intervention: Implications of the theory of optimum currency areas. Journal of International Economics, 45(2), 191–209.
   Web of Science ®Google Scholar
• Calvo, G. A., & Reinhart, C. M. (2002). Fear of floating. The Quarterly Journal of Economics, 117(2), 379–408.
   Web of Science ®Google Scholar
• Chaplygin, V., Hallett, A. H., & Richter, C. (2006). Monetary integration in the ex-Soviet Union: A “union of four”? Economics of Transition, 14(1), 47–68.
   Web of Science ®Google Scholar
• Cohen, B. (1993). Beyond EMU: The problem of sustainability. Economics and Politics, 5, 187–203.
   Google Scholar
• Corden, W. M. (1972). Monetary integration, essays in international finance. Princeton, NJ: International Finance Section, Princeton University.
   Google Scholar
• Dabrowski, M. (2016). Currency crises in post-Soviet economies – A never ending story? Russian Journal of Economics, 2, 302–326.
   Google Scholar
• De Grauwe, P. (2014). Economics of monetary union (10th ed.). Oxford: Oxford University Press.
   Google Scholar
• Eichengreen, B. (1994). International monetary arrangements for the 21st Century. Washington, DC: The Brookings Institution.
   Google Scholar
• Eichengreen, B., Rose, A., & Wyplosz, C. (1996). Contagious currency crises: First tests. The Scandinavian Journal of Economics, 98, 463–484.
   Web of Science ®Google Scholar
• Falyahov, R. (2014, June 3). Деревянный станет золотым [Wooden will become gold]. Gazeta.ru. Retrieved from https://www.gazeta.ru/.
   Google Scholar
• Fleming, J. M. (1971). On exchange rate unification. Economic Journal, 81, 467–488.
   Web of Science ®Google Scholar
• Frankel, J. A., & Rose, A. K. (1997). Is EMU more justifiable ex post than ex ante? European Economic Review, 41, 753–760.
   Web of Science ®Google Scholar
• Frankel, J. A., & Rose, A. K. (1998). The endogeneity of the optimum currency area criteria. Economic Journal, 108(449), 1009–1025.
   Web of Science ®Google Scholar
• Horvath, R. (2005). Exchange rate variability, pressures and optimum currency area criteria: Some empirical evidence from the 1990s. Applied Economics Letters, 12, 919–922.
   Web of Science ®Google Scholar
• Horvath, R. (2007). Ready for Euro? Evidence on EU new member states. Applied Economics Letters, 14, 1083–1086.
   Web of Science ®Google Scholar
• Kan, D., Andreosso-O’Callaghan, B., & Lenihan, H. (2011). Assessing the feasibility of monetary integration in the former Soviet Republics. International Economic Journal, 25(1), 63–89.
   Google Scholar
• Kenen, P. B. (1969). The theory of optimum currency areas: An eclectic view. In R. A. Mundell & A. K. Swoboda (Eds.), Monetary problems of the international economy (pp. 41–60). Chicago, IL: University of Chicago Press.
   Google Scholar
• Kim, Y., & Chow, H. K. (2003). Optimum currency area in Europe: An alternative assessment. Economics Letters, 81(3), 297–304.
   Web of Science ®Google Scholar
• McKinnon, R. I. (1963). Optimum currency areas. American Economic Review, 53, 717–725.
   Web of Science ®Google Scholar
• Mintz, N. (1970). Monetary union and economic integration. New York, NY: New York University Press.
   Google Scholar
• Mongelli, P. F. (2002). New views on the optimum currency area theory: What is the EMU telling us? European Central Bank Working Paper No. 138.
   Google Scholar
• Moreira, M. J. (2003). A conditional likelihood ratio test for structural models. Econometrica, 71(4), 1027–1048.
   Web of Science ®Google Scholar
• Mundell, R. A. (1961). Theory of optimum currency areas. American Economic Review, 51, 657–665.
   Web of Science ®Google Scholar
• Prokopenko, V., Jafarov, E., & Gulde, A. M. (2004). A common currency for Belarus and Russia? IMF Working Papers 04/228. International Monetary Fund.
   Google Scholar
• Sanchis i Marco, M. (2014). The economics of monetary union and eurozone crisis. Heidelberg: Springer.
   Google Scholar
• Suardi, S., & Chang, Y. (2012). Are changes in foreign exchange reserves a good proxy for official intervention? Journal of International Financial Markets, Institutions and Money, 22(4), 678–695.
   Web of Science ®Google Scholar
• Tarr, D. G. (2016). The Eurasian Economic Union of Russia, Belarus, Kazakhstan, Armenia, and the Kyrgyz Republic: Can it succeed where its predecessor failed? Eastern European Economics, 54(1), 1–22.
   Web of Science ®Google Scholar
• Tavlas, G. S. (1993). The “new” theory of optimum currency areas. The World Economy, 16(6), 663–685.
   Web of Science ®Google Scholar
• Uzagalieva, A. (2005). Fiscal consequences of monetary integration within a common economic area: The case of Belarus, Kazakhstan and Russia. Post-Communist Economies, 17(4), 399–424.
   Web of Science ®Google Scholar
• Vaubel, R. (1976). Real exchange rate changes in the European Community: The empirical evidence and its implications for European currency unification. Review of World Economics, 112, 429–470.
   Web of Science ®Google Scholar
• Vaubel, R. (1978). Strategies for currency unification. Tubingen: J.C.B. Mohr.
   Google Scholar
• Wyplosz, C. (1997). EMU: Why and how it might happen. The Journal of Economic Perspectives, 11(4), 3–22.
   Web of Science ®Google Scholar